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    Property profile & analytics

    1437 E Main St Mesa, AZ 85203

    • Strip malls
    • 19,278 SF
    • 1.68 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US07-2473330
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • FedEx Office Print & Ship Center / Courier Service / Postal Service
    • LA CASA DEL GUAJOLOTE / Restaurant
    • Youngreen Thomas DC / Alternative Medicine Practice
    • Babers smoke shop / (Bike/Boat/Book/etc) Store
    • FedEx Drop Box / Postal Service / Courier Service

    Property Details for 1437 E Main St

    Year built
    1987
    Construction
    CONCRETE
    Lot size
    1.68 lot acres
    Property size
    19,278 SF
    Zone code
    GC
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    138-11-048H
    APU
    13811048H

    Description

    This single-story, 5,901 square foot retail strip center is located at the southwest corner of Main Street and Barkley in Mesa, Arizona. Built in 1980, the property boasts excellent visibility and accessibility due to its location on a signalized intersection with light rail frontage. The center offers ample parking and easy ingress and egress. Currently, 5,959 square feet are vacant, presenting a significant opportunity for new tenants. The minimum divisible space is 784 square feet, while the maximum contiguous space available is 2,600 square feet. The property is zoned PHX - GC by the City of Mesa, and its APN is 138-11-048H in Maricopa County. The center benefits from strong demographics and an established Mesa neighborhood. This prime retail location offers exceptional potential for investors seeking a high-visibility property with significant vacancy to lease. The property consists of one building with a total of 5,901 square feet. The convenient location and ample parking make this an attractive option for a variety of retail businesses. This is a rare opportunity to acquire a well-located retail center in a thriving Mesa neighborhood.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,825,000
      Market price range: $2.56M - $12.7M
      AI Estimate
      $4,451,000
      Market price range: $2.56M - $11.8M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $6,005,000
      Current use
      RETAIL STORES
      $5,055,000
      Change: -16% Conversion: Easy
      MEDICAL BUILDING
      $5,050,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mesa
    County
    Maricopa
    State
    Arizona
    Longitude
    -111.801
    Latitude
    33.4147
    CBSA code
    38060
    CBSA name
    PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,798
    $0.00
    $0.00
    $526,518
    -
    $794,000
    $2,397,021
    $3,191,021

    Comparable in this City

    • Value Estimation
      $10,880,000
      22,197 SF

      1109 Main St

      SHOPPING CENTER, STRIP CENTER • 22,197 SF
      1109 Main St, Mesa, AZ 85203-8875
      View Details
    • Value Estimation
      $6,105,000
      9,600 SF

      1936 Main St

      SHOPPING CENTER, STRIP CENTER • 9,600 SF
      1936 Main St, Mesa, AZ 85203
      View Details
    • Value Estimation
      $3,935,000
      17,286 SF

      1241 Mckellips Rd

      SHOPPING CENTER, STRIP CENTER • 17,286 SF
      1241 Mckellips Rd, Mesa, AZ 85203-2719
      View Details
    • Value Estimation
      $1,415,000
      9,586 SF

      755 Mckellips Rd

      SHOPPING CENTER, STRIP CENTER • 9,586 SF
      755 Mckellips Rd, Mesa, AZ 85203-2555
      View Details
    • Value Estimation by Request
      2,760 SF

      1010 Main St

      SHOPPING CENTER, STRIP CENTER • 2,760 SF
      1010 Main St, Mesa, AZ 85203-8866
      View Details
    • Value Estimation
      $725,000
      5,450 SF

      742 Main St

      SHOPPING CENTER, STRIP CENTER • 5,450 SF
      742 Main St, Mesa, AZ 85203-8766
      View Details

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    Similar Nearby for Lease

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      Retail Space in Mesa, Arizona

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      View Details
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    1437 E Main St
    Mesa, AZ 85203
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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